2801 Griffiths Ave · Louisville, KY 40212

$115,000

3 bd · 1.5 ba · 1,407 sqft · SingleFamily · 30 Days on market

Built 1900 4,095 sqft lot Est $80k · 43% over

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Looking for a home that has had many updates and is under $100k?? Check out this home that sits on a double lot and offers 3 bedrooms, 1 1/2 baths with an Eat in Kitchen that offers plenty of space with several cabinets and newer appliances. Just off the kitchen you have a nice covered deck to drink your morning coffee and down the hall you have a laundry room, 2 bedrooms, and a full bathroom. The rear of the home offers the primary bedroom with a half bath and patio doors that exit onto your private covered deck. The seller has done many updates on this home including, flooring, painting, ceiling fan and light fixtures, and much more. The roof is approx 4 years old per seller. This home would make a great home for first time buyers or a rental for investors. Conveniently located 5 minutes off of Interstate 64, 10 minutes to downtown Louisville, 5 minutes to the Art Gallery Warehouse District bordering 15th Street, The Louisville Visual Art, the University of Louisville Hite Art Institute and coming SOON; The Waterfront Park: Phase IV Expansion Project, Coffee Shops and Restaurants. The Portland Neighborhood continues to be revitalized and has more to offer every day, be a part of it. Call today to schedule your showing.

Key facts

• Screened sunroom
• Front porch
• Covered back deck

Tags

• OPEN KITCHEN
• SEPARATE LAUNDRY ROOM
• OUTDOOR SPACE
• FRONT PORCH
• SCREENED SUNROOM
• COVERED BACK DECK

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Entry-side parking
• Utilities: Electricity connected; Natural gas service
• Home design: Single-family bungalow; One story; Built in 1900
• Construction: Vinyl siding and wood-frame construction; Shingle roof; Crawl space foundation
• Exterior features: Corner lot; Full fencing with wood and chain-link sections; Lot dimensions approximately 40 x 102.5

Interior

• Kitchen: Kitchen on the first floor; Formal dining room on the first floor
• Bedrooms: Three bedrooms, including a primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor; One half bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Seven total rooms; Four closets; Basement (unfinished cellar)
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#333 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, crime F.
• Jefferson County (urban): math 19% / reading 35% proficiency, ranked #121 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Atkinson Academy (math 8% / reading 12%, grade F, #648 of 676 statewide, top 98%, 327 students, 88% FRL); Westport Middle (math 16% / reading 38%, grade F, #172 of 217 statewide, top 80%, 1,177 students, 55% FRL) — zoned schools average 72% FRL vs 56% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 141 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 0.5% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $82k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $80,199
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 N 27th St	0.12mi	3/1.0	1,540 (+10%)	3mo	$100,000	$65	74
2409 Griffiths Ave	0.41mi	3/1.5	1,374 (-2%)	6mo	$37,000	$27	72
2547 Bank St	0.28mi	3/1.0	1,301 (-8%)	4mo	$103,500	$80	69
2616 Duncan St	0.34mi	2/1.0 (-1)	1,440 (+2%)	7mo	$48,000	$33	67
2619 Bank St	0.21mi	2/1.0 (-1)	1,280 (-9%)	5mo	$105,000	$82	64
654 N 25th St	0.51mi	3/1.5	1,344 (-4%)	6mo	$55,000	$41	64
2333 Duncan St	0.48mi	3/1.0	1,480 (+5%)	5mo	$83,750	$57	62
2537 Crop St	0.48mi	2/— (-1)	1,336 (-5%)	8mo	$16,500	$12	57
2508 W Main St	0.58mi	3/1.0	1,327 (-6%)	11mo	$112,000	$84	53
3007 Duncan St	0.40mi	2/1.0 (-1)	1,220 (-13%)	5mo	$45,000	$37	48
2024 Portland Ave	0.74mi	3/1.0	1,518 (+8%)	5mo	$83,750	$55	46
218 S 25th St	0.69mi	3/2.0	1,523 (+8%)	10mo	$130,000	$85	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 3.34×
• Total profit: $75,246
• Equity at exit: $103,601

10-year hold

• IRR: 25.3%
• Equity multiple: 7.34×
• Total profit: $204,004
• Equity at exit: $223,420

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 141
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,177 high
• Mortgage (P&I): −$603
• Tax from tax record: −$35 /mo · $420/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $244

Break-even live

Break-even rent $868

Max offer price $115,000

Occupancy floor 74%

Sensitivity live

Price	-10% $309	-5% $277	+0% $244	+5% $211	+10% $179
Rent	-10% $151	-5% $198	+0% $244	+5% $291	+10% $337
Rate	-1.0pp $302	-0.5pp $273	base $244	+0.5pp $214	+1.0pp $184

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.09mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	5d	1	0.23mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	5d	1	0.27mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	5d	1	0.34mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	5d	4	0.41mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	0.42mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	17d	1	0.43mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	13d	1	0.44mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.45mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	0.48mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	25d	1	0.49mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	0.50mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.56mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	5d	4	0.69mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	5d	1	0.76mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	25d	1	0.77mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.81mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.83mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.87mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	0.93mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	18d	1	0.93mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	25d	1	0.93mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	17d	1	0.94mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	22d	1	0.98mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	1.00mi
110 Hansbrough Pl Unit 101 Louisville, KY	2.0	1.0	924	$1,080	$1.17	25d	1	1.05mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	23d	1	1.05mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	25d	1	1.05mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	1.05mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	5d	1	1.06mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	5d	1	1.10mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	17d	1	1.15mi
313 N 42nd St Louisville, KY	3.0	1.0	900	$1,250	$1.39	5d	1	1.17mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	25d	1	1.17mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	17d	1	1.21mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	25d	1	1.21mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	25d	1	1.22mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	17d	1	1.31mi
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	21d	1	1.35mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	22d	1	1.39mi

Listing history 19 events

1. 2026-06-21
   days on market $115,000 Active 30 DOM
2. 2026-06-18
   days on market $115,000 Active 27 DOM
3. 2026-06-17
   days on market $115,000 Active 26 DOM
4. 2026-06-16
   days on market $115,000 Active 25 DOM
5. 2026-06-15
   days on market $115,000 Active 24 DOM
6. 2026-06-13
   days on market $115,000 Active 22 DOM
7. 2026-06-10
   days on market $115,000 Active 19 DOM
8. 2026-06-09
   days on market $115,000 Active 18 DOM
9. 2026-06-08
   days on market $115,000 Active 17 DOM
10. 2026-06-07
    days on market $115,000 Active 16 DOM
11. 2026-06-03
    days on market $115,000 Active 12 DOM
12. 2026-06-02
    days on market $115,000 Active 11 DOM
13. 2026-06-01
    days on market $115,000 Active 10 DOM
14. 2026-05-31
    days on market $115,000 Active 9 DOM
15. 2026-05-22
    listed $115,000 Active
16. 2023-10-25
    soldstatus $82,400
17. 2023-10-20
    soldstatus $82,400 Closed 1243-char remark

    Show marketing remark (1243 chars)

    Looking for a home that has had many updates and is under $100k?? Check out this home that sits on a double lot and offers 3 bedrooms, 1 1/2 baths with an Eat in Kitchen that offers plenty of space with several cabinets and newer appliances. Just off the kitchen you have a nice covered deck to drink your morning coffee and down the hall you have a laundry room, 2 bedrooms, and a full bathroom. The rear of the home offers the primary bedroom with a half bath and patio doors that exit onto your private covered deck. The seller has done many updates on this home including, flooring, painting, ceiling fan and light fixtures, and much more. The roof is approx 4 years old per seller. This home would make a great home for first time buyers or a rental for investors. Conveniently located 5 minutes off of Interstate 64, 10 minutes to downtown Louisville, 5 minutes to the Art Gallery Warehouse District bordering 15th Street, The Louisville Visual Art, the University of Louisville Hite Art Institute and coming SOON; The Waterfront Park: Phase IV Expansion Project, Coffee Shops and Restaurants. The Portland Neighborhood continues to be revitalized and has more to offer every day, be a part of it. Call today to schedule your showing.

18. 2023-09-08
    historical Active Under Contract 1243-char remark

    Show marketing remark (1243 chars)

    Looking for a home that has had many updates and is under $100k?? Check out this home that sits on a double lot and offers 3 bedrooms, 1 1/2 baths with an Eat in Kitchen that offers plenty of space with several cabinets and newer appliances. Just off the kitchen you have a nice covered deck to drink your morning coffee and down the hall you have a laundry room, 2 bedrooms, and a full bathroom. The rear of the home offers the primary bedroom with a half bath and patio doors that exit onto your private covered deck. The seller has done many updates on this home including, flooring, painting, ceiling fan and light fixtures, and much more. The roof is approx 4 years old per seller. This home would make a great home for first time buyers or a rental for investors. Conveniently located 5 minutes off of Interstate 64, 10 minutes to downtown Louisville, 5 minutes to the Art Gallery Warehouse District bordering 15th Street, The Louisville Visual Art, the University of Louisville Hite Art Institute and coming SOON; The Waterfront Park: Phase IV Expansion Project, Coffee Shops and Restaurants. The Portland Neighborhood continues to be revitalized and has more to offer every day, be a part of it. Call today to schedule your showing.

19. 2023-08-24
    listed $82,400 Active 1243-char remark

    Show marketing remark (1243 chars)

    Looking for a home that has had many updates and is under $100k?? Check out this home that sits on a double lot and offers 3 bedrooms, 1 1/2 baths with an Eat in Kitchen that offers plenty of space with several cabinets and newer appliances. Just off the kitchen you have a nice covered deck to drink your morning coffee and down the hall you have a laundry room, 2 bedrooms, and a full bathroom. The rear of the home offers the primary bedroom with a half bath and patio doors that exit onto your private covered deck. The seller has done many updates on this home including, flooring, painting, ceiling fan and light fixtures, and much more. The roof is approx 4 years old per seller. This home would make a great home for first time buyers or a rental for investors. Conveniently located 5 minutes off of Interstate 64, 10 minutes to downtown Louisville, 5 minutes to the Art Gallery Warehouse District bordering 15th Street, The Louisville Visual Art, the University of Louisville Hite Art Institute and coming SOON; The Waterfront Park: Phase IV Expansion Project, Coffee Shops and Restaurants. The Portland Neighborhood continues to be revitalized and has more to offer every day, be a part of it. Call today to schedule your showing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $420 · $35/mo
• Projected year-2 tax: $989 · $82/mo
• Expected delta: +$569/yr (+$47/mo · 135.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,126
• − Mortgage interest: −$6,442
• − Property taxes: −$420
• − Insurance: −$575
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$3,345
• Taxable income: $1,084
• Est. tax owed @ 24.0%: −$260
• After-tax cash flow: $2,668/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Jefferson County
• NCES district ID: 2102990
• Math proficiency: 19% ▼ -17.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $47,885
• Composite: 23.45/100
• National rank: #7884
• State rank: #121 of 165 in KY

Livability — Louisville

• Score: 63/100
• State rank: #333
• US rank: #15887

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety D+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisville, KY
• County: Jefferson County · 790,184 people
• City population: 769,292
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 823,112 people
• By 2030: 849,343 · +3.2%
• By 2040: 895,696 · +8.8%
• By 2050: 933,630 · +13.4%
• By 2075: 1,028,262 · +24.9%
• By 2100: 1,072,675 · +30.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jefferson

• 2024 margin: D (+16.6) · D 57.4% · R 40.9% · Other 1.7%
• 2008→2024 swing: +4.5pp toward D · 2008: 12.0pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+20.1 2016: D+13.3 2012: D+11.1 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• Metro: Louisville/Jefferson County, KY-IN
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+39.6% since first listed

5 events — show timeline

• 2026-05-22 Listed $115,000 Metro Search MLS
• 2023-10-25 Sold (Public Records) $82,400 Public Records
• 2023-10-20 Sold (MLS) $82,400 Metro Search MLS
• 2023-09-08 Contingent — Metro Search MLS
• 2023-08-24 Listed $82,400 Metro Search MLS

Property tax history

+1.4%/yr

Latest (2025): $420 · -9.4% YoY. Source: county tax records.